UPDATE 3-Halliburton revenue misses on weak drilling in North America

Mon Oct 19, 2015 11:43am EDT
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* 3rd-qtr revenue drops 36 pct

* North America revenue nearly halves

* Sees Q4 rev, margins flat to modestly low vs. Q3

* Shares fall as much as 2.5 pct (Details from conference call; updates shares)

By Sneha Banerjee and Kanika Sikka

Oct 19 (Reuters) - Halliburton Co, the world's No.2 oilfield services provider, reported a bigger-than-expected 36 percent drop in quarterly revenue, hurt by weak drilling and pricing in North America.

Halliburton and bigger rival Schlumberger Ltd's disappointing results highlight the struggles of the oil and gas industry, which is seeing little hope of a rebound in crude oil prices

The outlook for the battered industry continues to look gloomy even as Venezuela, an OPEC partner, plans to set a price band of $70 per barrel to stabilize the oil market.

Analysts have said the plan would be doomed from the start as Saudi Arabia, the group's de facto leader, has so far shown zero interest in returning to a strategy of supporting prices.   Continued...